Comments on: Investing in Silver Bullion? http://bulliondirect.looknooks.com/investing-in-silver-bullion Bid N Buy: Gold and Silver Bullion Fri, 30 Jul 2010 15:56:56 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: tw001 http://bulliondirect.looknooks.com/investing-in-silver-bullion/comment-page-1#comment-236 tw001 Mon, 25 May 2009 07:30:06 +0000 http://bulliondirect.looknooks.com/?p=387#comment-236 If I took one of my bars in to a coin shop to sell, and they wanted to drill in hole in my J/M serialized bar - I would give them a piece of my mind (loudly) and leave! you should have NO problem selling them as long as they are a known refiner / assayer. As far as the fees - thats a different matter. I have only bought from a coin store, never sold to them. Always sell to individuals - as they should atleast pay spot price (if price is in down trend) or more then spot if price is in uptrend. I doubt a coin shop will pay over spot price, as they can get it AT spot price or just a tiny bit over, and thats thier worst case scenario. And along the same lines. SHOP AROUND - can't stress that enough. I found that coin shops in my area had very noticable price differences for the same thing - call each coin shop one morning, and ask for the price of a 10oz .999 silver bar. Go visit the lowest 3 or 4 prices you get - (visit with empty pockets) just a get the feel of the place and see if you like who you'll be giving your money too. I should also say (since you asked), take it with you! DO NOT pay for storage - its no good if you can't get to it when/if you need it. Also, any fees over time will eat up some profit you will make if the price goes up, and it will add to the lose if the price goes down. If its just an investment, buy in on a physical 'pool', like at kitco.com. Its about 1/3 the way down on this page: https://online.kitco.com/sellprice/selling.html I only mention this as an option. Personally, I would suggest getting physical if your interested in it. Last but not least - If you do decide to purchase some silver from a local coin shop - PAY IN CASH!! No credit cards, no debit cards, no checks, no names, no nothing - just pay, say thanks and leave. Good luck! edited: "Nobody buys the actual metal as an investment anymore." Nobody??? really??? Check E-bay - find a .999 silver "anything" that sells for less then spot price. 1000's of oz.'s per week are sold on E-bay at what I consider high prices, especially when you take shipping into consideration. If I took one of my bars in to a coin shop to sell, and they wanted to drill in hole in my J/M serialized bar - I would give them a piece of my mind (loudly) and leave!

you should have NO problem selling them as long as they are a known refiner / assayer.

As far as the fees - thats a different matter. I have only bought from a coin store, never sold to them. Always sell to individuals - as they should atleast pay spot price (if price is in down trend) or more then spot if price is in uptrend. I doubt a coin shop will pay over spot price, as they can get it AT spot price or just a tiny bit over, and thats thier worst case scenario.

And along the same lines. SHOP AROUND - can't stress that enough. I found that coin shops in my area had very noticable price differences for the same thing - call each coin shop one morning, and ask for the price of a 10oz .999 silver bar. Go visit the lowest 3 or 4 prices you get - (visit with empty pockets) just a get the feel of the place and see if you like who you'll be giving your money too.

I should also say (since you asked), take it with you! DO NOT pay for storage - its no good if you can't get to it when/if you need it. Also, any fees over time will eat up some profit you will make if the price goes up, and it will add to the lose if the price goes down.

If its just an investment, buy in on a physical 'pool', like at kitco.com. Its about 1/3 the way down on this page:
https://online.kitco.com/sellprice/selling.html
I only mention this as an option. Personally, I would suggest getting physical if your interested in it.

Last but not least - If you do decide to purchase some silver from a local coin shop - PAY IN CASH!! No credit cards, no debit cards, no checks, no names, no nothing - just pay, say thanks and leave.

Good luck!

edited:
"Nobody buys the actual metal as an investment anymore."
Nobody??? really??? Check E-bay - find a .999 silver "anything" that sells for less then spot price. 1000's of oz.'s per week are sold on E-bay at what I consider high prices, especially when you take shipping into consideration.

]]> By: Frank Castle http://bulliondirect.looknooks.com/investing-in-silver-bullion/comment-page-1#comment-239 Frank Castle Mon, 25 May 2009 07:30:06 +0000 http://bulliondirect.looknooks.com/?p=387#comment-239 If you buy silver today and go back to the very same dealer that sold you the silver that day you will lose money. If you keep silver in your house to avoid storage fees you still have to invest in insurance. If you want to have some "portable property" you can buy a Prepaid MasterCard Debit Card Valid Worldwide. If you buy silver coins you are paying a fee for the manufacturing of the coin aditionally to the price of silver. Unless you are into numismatics. I suggest you not to buy silver coins. Nobody buys the actual metal as an investment anymore. If you want to invest in Silver, you can buy stocks in silver mines, mutual funds specialized in Silver mines and of course you can buy silver as a commodity. If you need more detailed information. Let me know. If you buy silver today and go back to the very same dealer that sold you the silver that day you will lose money.

If you keep silver in your house to avoid storage fees you still have to invest in insurance.

If you want to have some "portable property" you can buy a Prepaid MasterCard Debit Card Valid Worldwide.

If you buy silver coins you are paying a fee for the manufacturing of the coin aditionally to the price of silver.

Unless you are into numismatics. I suggest you not to buy silver coins.

Nobody buys the actual metal as an investment anymore.

If you want to invest in Silver, you can buy stocks in silver mines, mutual funds specialized in Silver mines and of course you can buy silver as a commodity.

If you need more detailed information. Let me know.

]]> By: nBuOdBe http://bulliondirect.looknooks.com/investing-in-silver-bullion/comment-page-1#comment-241 nBuOdBe Mon, 25 May 2009 07:30:06 +0000 http://bulliondirect.looknooks.com/?p=387#comment-241 I have bought silver bullion in the past and had no problem at a coin show selling quality bars. I bought Engelhard 1 and 10 oz. bars. I paid a premium over the spot price and was able to sell at the spot price. A dealer usually sells quantities at a profit margin of 10% over spot. Many years ago, silver was used in the x-ray and photo industry. Now silver is used in electronics, jewelry, and as a medium of investment. The US still produces bullion coins but now has to buy on the market to produce the collector coins. If you are using money that you don't need to live on or for a rainy day, by all means invest in silver bars and rounds from the companies that are accepted on the commodity market. If you decide to invest in rare coins, only buy from a reputable dealer and only buy graded and certified coins. The same goes with silver bullion, buy from a reputable dealer and buy genuine Englehard, JM, Credit Suisse bars or rounds. Other easily traded bars or rounds include the US silver Eagle, Canadian Maple Leaf, Mexican Libertad, even the Chinese Panda. Before you buy, READ ABOUT THE BARS AND BULLION COINS. Know their weight, negotiate large purchases, and have fun collecting. I have never had a problem at a coin show and have even had dealers bidding for my pieces. I have bought silver bullion in the past and had no problem at a coin show selling quality bars. I bought Engelhard 1 and 10 oz. bars. I paid a premium over the spot price and was able to sell at the spot price. A dealer usually sells quantities at a profit margin of 10% over spot. Many years ago, silver was used in the x-ray and photo industry. Now silver is used in electronics, jewelry, and as a medium of investment. The US still produces bullion coins but now has to buy on the market to produce the collector coins. If you are using money that you don't need to live on or for a rainy day, by all means invest in silver bars and rounds from the companies that are accepted on the commodity market. If you decide to invest in rare coins, only buy from a reputable dealer and only buy graded and certified coins. The same goes with silver bullion, buy from a reputable dealer and buy genuine Englehard, JM, Credit Suisse bars or rounds. Other easily traded bars or rounds include the US silver Eagle, Canadian Maple Leaf, Mexican Libertad, even the Chinese Panda. Before you buy, READ ABOUT THE BARS AND BULLION COINS. Know their weight, negotiate large purchases, and have fun collecting. I have never had a problem at a coin show and have even had dealers bidding for my pieces.

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